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on "mad money." i'm jim cramer. i'll see you tomorrow! >>> as the obama care rollout continues to fail, the question tonight is this. is president obama's entire second-term agenda and ability to govern now in jeopardy? as mitt romney now says, the entire foundation of the obama presidency is rotting away because of broken promises and fundamental dishonesty. >>> and here's the latest blow to the new law. a new study predicts as many as 129 million americans will be dropped by their current plans and be forced to buy much more expensive plans instead. the author of that study is going to join us live. >>> and we're just a few hours away from election day. two key races in new jersey. a big chris christie win might make him the gop presidential front-runner. and in virginia, can republican ken cuccinelli pull a fast closing upset? those races tomorrow night. all those stories and much more coming up in "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we're live here at 7:00 p.m. eastern and 4:00 p.m. pacific. we have mor
of developing problems and questions about obama care. now, as you know, americans are still furious at the broken promises and costly surprises of insurance plan cancelations. plus, the obama care computer breakdown continues. and health secretary kathleen sebelius still refuses to come clean about the inside causes and costs of the fiasco. all right. first, tonight, we now know that the obama administration is muzzling insurance companies, telling them to keep quiet about all the canceled policies and increased premiums. also, more democrats are starting to push back against the law. including senator mary landrieu who was working on a bill to allow americans to really keep their own health plans. and congressman darrell issa has subpoenaed secretary sebelius for the information regarding the botched launch she so far declined to hand over voluntarily. all right. all those stories and more. on "the kudlow report" starting right now. this is just unbelievable. all right. now, we've got all this developing news here to analyze the whole story. we bring in bob lashevski
-released nbc news/wall street journal poll shows that president obama's standing is taking a real beating in the wake of the obama care rollout. this is the weakest showing of his five-year tenure in that poll. just 42% of americans approve of the president's job performance while 51% disapprove, but president obama is not backing down on obama care. he's just wrapped up a visit to boston where he fronted an impassioned rally in defense of his health care, hardline, no backing down and he gave no quarter and importantly, no delay. that's what he seems to be against and the president is most insistent and defiant against criticses of obama care. take a listen. >> nobody's losing their right to health care coverage, and no insurance company will ever be able to deny you coverage or drop you as a customer altogether. those days are over and that's the truth. that is the truth. >> all right. we'll get to fact checking in just a minute. the president was in boston because he wanted to use romney care as an example of a slow starting, but successful health care reform law. listen to this one. >
, you will be able to keep your doctor, period. >> all right. there you have it. president obama's broken promises, and misleading statements about obama care are now in the pantheon of international slugs. every newspaper in america are filled with documented proof that millions of americans are losing her to doctors, are losing her to plans and we know the white house knew this would happen all along as much as three years ago. all that sets the stage for what should be a hot and controversial hearing on capitol hill tomorrow morning, featuring hha secretary kathleen sebelius and the congressman who was chairing the committee that will be grilling sebelius is about to join us. don't let all the obama news cry out, we closed at a new all time high for the dow and another all time high for the s&p 500 t. ramally keeps rolling along. all those stories, much more coming up on "the kudlow report" beginning right now. now, before we get to obama care. we got to show you the markets, because it was a record day on wall street. kayla joins us with all the key details. goef. >> good eve
of obama care. still a big story. today a leading senate democrat comparing the health care law to humpty-dumpty. just another sign the political and media tide has turned against the health care plan. and as always, don't forget, free market capitalism is still the best path to prosperity. for the millionth time, i will say this obama care has nothing do with free markets, and "the kudlow report" will be coming right back. i got this. [thinking] is it that time? the son picks up the check? [thinking] i'm still working. he's retired. i hope he's saving. i hope he saved enough. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. whether you're just starting your 401(k) or you are ready for retirement, we'll help you get there. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow s
and i'll see you tomorrow. . >>> the obama care debacle continues, and a story just breaking tonight. nbc news reports the obama white house has known for at least three years that millions of americans would in fact lose their preferred health insurance plans because of obama care. this comes as more people call for hhs secretary kathleen sebelius to step down over this, but i say it's way over time to hold president obama accountable. the buck stops there. he ought to show some back bone and not just blame his underlings. and there's talk about the fed using the inflation rate. we have alan greenspan to talk about that policy and talk about the current state of the economy. our other special guest will be former florida governor jeb bush. i'm going to ask him about the civil war in the republican party and how to solve it. all that and more on a special edition of "the kudlow report." we are live from washington, d.c. tonight and we begin right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we are live, 7:00 p.m. eastern, 4:00 p.m. pacific time. we
that story now. >> "halftime" is over. the second half of your trading day begins now. >> obama care, a deep dive this hour and things just got a little bit worse for the white house after an nbc news report saying the president did know that many people would lose their health insurance plans. those plans would basically be canceled. our big question today, what does this all mean for the so-called cadillac plans, these are very good plans sponsored by employers, will costs increase? could they go away? what's going to happen to them? and do the higher costs of obama care and the other issues surrounding it, will democratic congressmen start cracking, breaking with the white house? change their minds, go against obama care. sue is down at the nyse. hi. >> hi. we begin with breaking news, but not here at the nyse. at the nasdaq. seema moody is there with the latest on trading glitches and halts earlier today. what's the latest? >> sue, the nasdaq indexes have resumed trading after an unusual halt where the nasdaq composite, the nasdaq 100 among other nasdaq specific indexes were not updating
. he's been a big supporter of obama care. we'll get his take on the rollout problems. and then reports on their earnings in about an hour. howard will break down those numbers for us. let's not forget about facebook either. the social media giant will be reporting after the bell tonight. we'll have those numbers. instant analysis as only "closing bell" can do it. a very jam-packed show today. >> let's approach the markets in the final hour. we're well off the highs with a decline in the session of 67 points. pushing the dow back from the records reached at 15,612. onto the nasdaq, seeing selling in technology as well. nasdaq lower at 26 points. it, too, coming off the highs which were down but we really worsened after the news from the fed. s&p 500 looks like this. similar chart pattern. you see exactly where the market really came undone after the fed minutes were released. down 9.5 points at 1762. want to bring in our panel of experts and make sense of what's happened in the last hour. >> joining us, crying from "the economist," from the buttonwood gathering in new york, david kudla,
about the health care glitches for the obama care website. eamon javers is here with me, previewing what the president will say, and he'll be coming out shortly. duval patrick at the podium. do you expect the president to offer apologies for glitches or -- the president is coming right now. let's toss it over to the live shot and get your reaction after we hear from the president. here now, president barack obama. >>> hello, boston! >> it's good to be back in boston. it's good to be back in boston because one of america's best governors introduced me, duvall patrick. give him a big, long applause. it's good to see congressman bill keating here. give bill a big round of applau applause. i want to praise somebody who is not here. i just left him. but he wears his heart on his sleeve. he loves this city so much, and it shows in what he's been doing for years now. one of america's best mayors, tom menino. and it's good to see all of you. you know, i was just at the airport, duvall was nice enough to meet me and mayor menino. mayor menino went back to city hall to work so he could wrap up in
're following at this hour. of course the markets at or near record levels. the other one, the obama care mess. this lady on the hot seat. congress questioning health and human services secretary kathleen sebelius. if you missed the hearing it's safe to say that this was not the secretary's best day. and among other things, we're looking at is how obama care could change your employer sponsored plan. we're getting new details today as annual enrollment season approaches for many of the plans. then, now i can move over here, there is sue, the it fed, decision time, one hour away and where does america stand on job creation? it's critical, obviously, to the fed and to the economy. adp number out this morning, not so great. let's check in with you at the nyse. >> you're absolutely right, and we will get to that but we want to start, ty, with the fireworks on capitol hill as kathleen sebelius goes before the house energy and commerce committee. bertha coombs is on the case on capitol hill. over to you, bertha. >> sue, the hearing lasting more than three and a half hours and members of congress usu
about health care bill. obama care relying on young people to sign up to pay for the program and help the ouflt control costs of health care in america. how does that look so far? we've got an update next. >> speaking of young people have you heard about this new poll we conducted with the associated press? cnbc/ap poll finds 52% of people aged 18 to 34 those are the heaviest users, they feel twitter is not a good place to invest. really? so if twitter's core users don't even want to buy the stock should you stay away from that offering? we'll look at that coming up. >>> and then scrooge mcducks, that's what they are being called. they should pay more in taxes. you can but that's getting some reaction today. later on "closing bell." vo: two years of grad school. 20 years with the company. thousands of presentations. and one hard earned partnership. it took a lot of work to get this far. so now i'm supposed to take a back seat when it comes to my investments? there's zero chance of that happening. avo: when you work with a schwab financial consultant, you'll get the gui
today that the obama administration knew for years that many americans actually would not be able to keep their existing health insurance under obama care. lisa myers, who broke the story, we are going to be talking with her. the story that everybody's talking about. she'll join me next. you're watching the "closing bell" on cnbc, first in business worldwide. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> welcome back. more earnings out. linkedin, over to dominic chu. >> from 4% to 5% down in the market to a flash. after the company, the world's biggest professional networking firm, said sales came in at $393 million, better than estimates, and earnings 39 cents a share, better than estimates. downside pressure applied as fourth quarter and full year sales outlooks coming in below analyst estimates. one thing that might be a positive, why the stock is getting back to flat or sl
-setting manner. >> we're not forgetting the white hot story out of obama care, the nbc news report confirming the white house knew millions would not be able to keep their health plans even as the president was promising just the opposite. we have aetna ceo mark bertolini reacting exclusively to that coming up on the "closing bell." >> let's get to the red hot market. a market in unchartered territory. the dow jones industrial average up. we've been steady the last hour. the magic number as you heard to watch, 15,767 would be an all-time high. we're close to it with a 90-point rally. nasdaq, take a look at where we are, technology a leader today. up 39 47. s&p 500 also in record-setting territory. if we close even just a point above where we are, yesterday we close at an all-time high. we're in unchartered territory with s&p 500 at 1769. let's talk about where the strength is today. will the dow do it here? new all-time high, bob pisani. what is the money say on the floor right now? 15 points away. 15676 would be a cleesing high for the dow jones industrial average. 15 points away. we're alre
yielding, the bond-like stocks. >> are you seeing any impact on obama care? >> employment growth is weak. and a lot of that is uncertainty involving obama care. >> this whole dysfunctional government has been a real issue. do you think there's any chance of some grand bargain in the next month or so? these fights begin again in january. >> exactly, it's kind of the same movie over and over again. if anything, i'm optimistic about washington because i think that what we have seen is the polls are suggesting that the american public is sick of, you know, kind of brinkmanship and sort of political games that are stymying growth, they're stymying progress and we're seeing more of the same playing over and over again. politicians have got to be aware of this at this point ant start to come together. the guys who look like heroes are the guys on both sides of the aisle who are saying, let's work with each other. >> we have the continuation of the sequester, it gets more and more painful as time passes, so that could provide an incentive. >> we'll see you soon, guys. up next on "the money" the
and that contrasted with the obama administration's reports of more than 6 million unique -- that's a big -- >> i understand why they don't want to give out the numbers. >> the health and human services department has said it won't release enrollment figures until mid november. >> they're probably better off that way. >> that's what sebelius said. >> mid november, i'd do -- >> jan 1? >> yeah. mid 2015 and see what happens. >>> we have other news, president obama has reportly ordered the nsa to stop eavesdropping on joe kernen. no, stop eaves dropping on the headquarters of the imf and world bank. the order is said to be the latest move, of course, by the white house to demonstrate its willingness to curb at least some surveillance in the wake of weeks by former nsa contractor edward snowden. >>> a number of comments about janet yellen starting to come from the senate. richard shelby says he would oppose efforts to block her nomination with a filibuster unless some disturbing disclosure emerge. his comments come after senator rand paul said he instead to withhold her nomination. and senator lindsa
watch complete coverage of her testimony on "squawk on the street". then this afternoon, president obama will defend his health care law. verizon said it was doing maintenance on the system. there was a similar halt on sunday. we'll have more on these stories in just a few minutes. >>> but first, the rest of today's agenda, earnings central will be hearing from general motors, nbc parent comcast, chrysler, corning and sodastream, all before the bell. this afternoon, we have visa, facebook, comcast, kraft foods and many others. on the economic front, the fed wraps up a two-day fomc meeting in washington. this is a policy announcement set tore 2:00 p.m. eastern today. the central bank is expected to maintain its massive bond buying campaign. fed watchers say ben bernanke and company may point to softer readings on the economy to signal that the policy will be extended into next year. >>> as for the other items on today's economic agenda, the october adp employment report is going to be released at 8:15 eastern time. it's expected to show 150,000 private jobs were added this month. the whis
that millions would lose their plans. you can't keep your plan under obama care. some, anyway. it's tuesday, october 29th, 2013 and "squawk box" begins right now. >>> good mortgage, everybody. i'm becky quick along with joe kernen. andrew ross sorkin is on assignment today. he'll be back tomorrow. >>> on the fed news, ben bernanke will be gathering with other fomc members for a two-day meeting. a policy meeting is set for tomorrow. economists say this is likely to be more of a strategy session with no action from the central bank. the senate banking committee is considering holding a hearing on janet yellen's nomination on december 14th. the panel needs to vet the nomination before it can go to the full senate for final consideration. steve liesman reported last week senator rand paul said he was thinking of putting a hold on yellen's nomination unless a voet vote was loud on his proposal for more transparency on the fed. beyond the fed, there are some other economic happenings. namely, at 8:30 eastern time, we have two reports delayed by the government shutdown. first, we go the consumer p
. earnings roll out for vw, gm and fiat, we'll take a look at the sector. >>> plus, obama care is lurched to the next crisis. a report released in early september now appears to suggest at least one contractor knew a performance risk ahead of the website launch. we'll get a full update. "worldwide exchange" continues in just a few moments. >>> in corporate news, sales are not doing well for anyone tendo. they're expecting an operating loss of $237 million for the april to september period. but it was a narrower loss compared to the previous year. nintendo stuck to its console sales forecast of 9 million units for the year ending in march 2014. barclay's has reported an underlying pretax profit of 4 billion pounds to the three months end of september. it's marked a half billion pounds fall from last year's figures, but they did beat analyst forecasts. the stock up 3.4%. it's joined ubs and deutsche bank in a commitment to help regulators expose alleged rigging of currency markets. if you're a bank lender, you can't get away from investigation. >> yeah. i think you're right and i think afte
you so much for returning my call and taking your expertise and time. >> of course. >> with the obama health care situation either yesterday or today and it didn't help. it didn't work out. what i would like, sir, is your expertise, and i love you. i really do. i watch you every day. your expertise opinion. what action do i take with verizon now? >> you hold it. i have to tell you. let's just be really clear about it. i almost call them knucklehead, the canadian company that designed the wen site. that's a publicly traded stock and it's not doing that badly. the idea that verizon was thrown under the bus and that verizon could be punished for this -- it was my judgment when i listened it's ludicrous. if anything, verizon under 50 remains one of my -- >> buy, buy, buy! >> and i would certainly hold the stock. can i go to j.b. in colorado? j.b.! >> dr. cramer, greetings from the continental divide. >> what's going on? >> they first declared their first-ever quarterly dividend and they disappointed the street by meeting the second quarter estimates by a penny. what is the short and long-
signing up for insurance. but there may be other nontechnical issues plaguing obama care. seema is with us in the states. what else is going on? >> well, ross, in the period leading up to the launch of the affordable care act this month, president obama repeatedly said if americans liked their insurance plans and their doctors, they would be able to keep them under the new law. but nbc news is reporting the obama administration knew for several years the majority of people who buy their own health coverage wouldn't be able to keep this happen their policies under obama care. nbc says those forced to buy new insurance may experience sticker shock from higher premiums. when the law was passed in march of 2010, it was supposed to grant grandfather in existing policies, even if they didn't comply with the rules. but that same year, the department of health and human services rewrote some regulations essentially getting rid of the grandfather exemption. now, the white house isn't disputing the report, but tells nbc most individual policyholders should receive better health coverage that's more
businesses. facebook looking for the social marketing revolution. >> and nbc reporting the obama administration knew millions would not be able to keep their health insurance under the new affordable care act. >> first up, though, apple did beat the street last night with its fiscal fourth quarter numbers. profits fell, growth margins slid among heightened competition, despite the sale of 40 million iphones for the quarter. they see revenues 55 billion to $55 billion. here's what ceo tim cook had to say last night on apple's conference call. >> if terms of supply, into the quarter with a very significant backlog. however, our supply is building each week. in terms of the retina or the ipad mini where the resin display, we'll start shipping later in november. it's unclear whether we will have enough for the quarter or not. i think we'll do fairly well with ipad, as i had mentioned before. we felt like it going to be a really great holiday season. >> you know we're in a brave new world when a revenue forecast for a quarter -- actually, a margin forecast for a quarter, jim and david
his reaction to obama care snafus, potential impact on the company's bottom line. >>> also ahead -- >> b12 is the best treat you can get on halloween. >> it's the worst thing i've ever tasted. >> i think i need water. >> wait till you hear who produced this youtube video that's gone viral and why they produced it. don't touch that remote. you're watching the "closing bell." back in a moment. trading inspires your life.340 tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. tdd#: 1-800-345-2550 of your trading. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a
're watching "worldwide exchange." >>> the national security agency has denied that president barack obama was told that he was spying on the phone of angela merkel. they claim the president was informed by the nsa chief in 2010 that it had bugged the phone of the chancellor and he didn't stop the operation because he didn't trust her. trust her with what? annette has the information. i've always assumed, annette, that we're all spying on each other. we have this big listening post called gchq and what is it there for if not to listen to people. the mistake the u.s. made was they wrote it on paper. once you have a record of it, you have to complain. >> that's true. the german constitution states that the u.s. secret service agencies are allowed to spy on german soil and they, as well, might be allowed to spy on angela merkel. so everybody who is now screaming that's against the law might not really be right. but let me reiterate what we are as well having in terms of reports coming out from the wall street journal. they are saying that president obama was informed about the spying on angel
of daidu. almost 6% is the move. glitches in the roll out of obama care could have a major impact. we've got the health care trade next. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ]'ll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. so i can reach ally bank 24/7, but there ar24/7.branches? i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water.
said this week that president obama did not know about the's technical problems until after the launch, in a statement she delivered from under the bus. >> yes, when "saturday night live" makes your signature legislation a weekly punch line, that's never a good thing. and it could get worse as congress prepares to hold hearings tomorrow on the troubled rollout. bertha coombs with the latest on the as obama care turns saga. >> feels like a soap ra, doesn't it? house officials are holding daily briefings on but short on details. the federal data system was down much of sunday due to an outage provided by verizon's unit. it affected all of the states as well. now, on the conference call today, spokespersons for cms didn't say what caused the verizon server fail you're or how they're prooevening it from happening again. we don't know if it happened because of one of the fixes that tripped it up. last week testifying before congress, the contractor who built the federal hub, qssi, said it was working properly. on friday qssi was made general contractor in cha
things as a result of the changing landscape with obama care? have you made any changes at sprint? >> we have not yet. we are monitoring developments closely. we provide, if you will, good health care services to our employees. and we're monitoring the situation closely. >> you know, i thought -- i thought that this investment from soft bank -- it exposes you to all the companies soft bank is invested in. internet companies. you want to talk a bit about what you're going to do with this 80% investment by soft bank and what kind of opportunities you see as a result of it? >> the first thing, the cash injection from soft bank allowed us to buy clear wire which i alluded to earlier. but take a look at this soft bank wireless. arguably the best performing wireless company in the world, what soft bank has been able to do in japan. we have a tremendous amount we can learn from them. we get together with management teams. share best practices and learn from them on a regular basis. on the internet side, you're exactly right. they have investments in over 1,000 internet companies. think of where
with the rollout of obama care. it is a hearing that at times has been confrontational. bertha coombs joins us with the very latest and the highlights from the capitol. bertha? >> scott, it seems as secretary sebelius benefited from yesterday being able to see maryland tavenner take a grilling. the cms administrator had a very hard time. sebelius seemed to come on the offensive. she came and she admitted that she was responsible, that the website has been plaued. at one point calling it a debacle. she apologized to people for the fact that is not working properly, saying they are trying to fix it. even this morning, the site remains down because of a cloud server issue. she also said that one of the things when she was confronted by representative terry, why they're not giving enrollment numbers even as states are, she said the reason is, that she won't give them, because of the continuing problems with the system. >> that data out there exists. >> sir, i would -- i would tell you right now, it is not reliable data. according to the insurance companies who are eager to have cust
most americans think obama care needs to be fixed or nicksed. meantime, the president's approval rating has sunk to an all-time low. it's thursday, october 31st, obviously. happy birthday, penelope. "squawk box" begins right now. ♪ >>> did morning, everybody. happy halloween and welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we start things off on this halloween morning with the markets. this month, the dow, the s&p 500, the dow transports the russell 1,000. the russell 2,000 and the s&p 400 midcaps have all hit all-time highs. ten dow components have set multi year highs in october with seven reaching all-time highs. as for its year in the markets, volatility has fallen almost 18% this month. of course, the lineup has led some to question if things have gone too far too fast. pim pimco's bill gross on cnbc yesterday after the fed decision. >> the markets are bubbling and all asset prices are bubbling down. steve liesman has pointed out profit margins are bubbling. to the extent that any of them can be suspended i guess is th
in the bio science. >> will obama care help or hinder that development. does it get in the way or does it mean more access will drive better outcomes? >> i think the issue you are talking about obama care is focused on care and treatment. the largest part. if we are going to solve the problem, it really isn't care and treatment. the issue is really prevention, wellness, research cure. >> there are more and more people talking about this on wall street. the lines between a company like apple and some of the names that you are talking about in this conference are blurring, because, frankly, wearable technology and personalized medicine sounds like the next big wave. what's going to be the next facebook or twitter for this space? >> i don't know that i can make that prediction but there is a very rapid evolution naary proc going on here. what we need is a healthy ecosystem, that involves phrma and biotech and special device companies and computational companies that are dealing with big data. also, academic institutions which tend to be where the basic science gets done that undergirds al
it. and neither are a lot of americans who need health care. >> and the troubled rollout of obama care and the recent government shutdown has hurt the president's standing. his approval rating is falling five points in less than three weeks to 42%. the lowest level of his presidency. obama's likability is dropping, only 41% now view him positively versus 45% that are negative. joef all, 70% of americans say the u.s. is headed on the wrong track. >>> and america is out with its semi anlul currency report. once again, the treasury stops short of labelling china a manipulator. it says the u.n. is still undervalued, but recent appreciation is for the economy. it says the country's dependance on exports is hurting economic stability in europe and the global economy. the treasury says germany should focus more on boosting domestic growth. >>> as for the agenda today, stateside weekly jobless claims are out at 8:30 eastern. 10:00 a.m., we get the october chicago pmi. conco philips and exxon mobil report before the opening bell. reporting earnings in europe, french based profits tumbling
somewhere, i promise to try to find it for you. i'm jim cramer and i'll see you tomorrow. . >>> the obama care debacle continues, and a story just breaking tonight. nbc news reports the obama white house has known for at least three years that millions of americans would in fact lose their preferred health insurance plans because of obama care. this comes as more people call for hhs secretary kathleen sebelius to step down over this, but i say it's way over time to hold president obama accountable. the buck stops there. he ought to show some back bone and not just blame his underlings. and there's talk about the
historical p/e. >> so what would you be buying here? >> i still love health care. you know, you have obama care, when it gets going -- >> what happens if it's delayed longer than expected? a lot of stocks have run up on the expectation of the program starting on time. >> the hospitals haven't, though. the hospitals have the mid-level performance, and see some pressure as quarters are reported, a great buying opportunity here. the government is guaranteeing all of their bad debts. the airlines we see today, we'll talk about it more, still, that's good consolidating business, i love it. and pick some of the financials. extremely cheap, and they will move again back to 52-week highs. >> look at japanese exporters, kamatzu, nissan, some of the names that would benefit from further stimulus in europe. the european consumer names, adidas, bmw. and steven is right to point out that the euro has lifted too much. it was in the same place in february. he did a great job to use verbal intervention to walk the euro back. does the same again. numbers out of u.k., germany, incredibly strong. >> what abo
on amazon if they -- >> is this a good headline or bad headline. >> obama unaware. >> it's a terrible headline. every time there's a problem in the administration obama is unaware. >> he's mad that he didn't know. >> he's mad about obama care. >> he's mad about -- >> that we were spying. >> mad about the irs scandal. mad about benghazi. >> if you're obama, what is the answer on the merkel phone? >> what are you supposed to say? >> our bad. >> are you supposed to say our bad? >> personally to her you say our bad. >> the germans are furious, truly furious. >> by the way, since we did find out -- since he did find out about this they canceled some of them but not all. >> right. that's the funny thing in that story. >> now and in the future. >> we're not doing merkel but we won't say -- >> we did it in the past. no question. >> the germans don't do it. >> the germans don't do it. they say they don't do it. >> when you're in international espionage a lot of this stuff goes on that nobody says they do. >> be a big boy and say, you know what, life is what it is. chinese do it, germans do it,
to pay $170,000 of penalties in obama care. it's another california of texa government picking winners and losers, we are the losers. here are my options, do not pay the penalty, raise my prices and go out of biz, lay off employees who don't have to pay. and here's a quote from the other. since they're their high labor, low margin business, we're forced to consider bankruptcy, fire employees to get under 50 employee limit, close the location. we cannot escape many expenses such as rental agreements. >> sir, i think in the employer market about 95% of all american businesses are exempt from any kind of requirement to cover employer/employee insurance. they are outside the law, they continue to be outside the law but they will have some new options for those who want to cover their employment and new tax credit possibilities. for large employers, 96% already cover their employees. the penalty that you're constituents referred to is not a penalty that is imposed in 2014, it is being discussed with businesses about what kind of information is exchanged and it will take place -- >> i thank
. first to eamon javers in washington to explain how we got here. >> hi, tyler. the obama administration sees this one as a big win this week. remember that fiscal cliff deal that we had at the end of last year's crisis in washington? what they did was, they raised taxes, and they cut spending through the sequester. and that's had a fairly predictable result. it's been good for the deficit. take a look at this chart, and you'll see the deficit as a percent of gdp has gone down dramatically since 2009 when it was 9.2%. 2013, just 4.1%. 79% of the decrease the government says it due to tax receipts. record tax receipts in 2013, up $325 billion from 2012. that's up 13%. so the tax man is getting his cut of this improving economy and also as a result of those tax increases. that has led to this lowering of the u.s. deficit. that's something the obama administration says is a good thing. they feel like, you know, it's not getting enough attention here in all of this hullabaloo here in washington. >> a quick follow-up question if i might that kayla tausche raised. and that is all of the money
! >>> as the obama care rollout continues to fail, the question tonight is this. is president obama's entire second-term agenda and ability to govern now in jeopardy? as mitt romney now says, the entire foundation of the obama presidency is rotting away because of broken promises and fundamental dishonesty. >>> and here's the latest blow to the new law. a new study predicts as many as 129 million americans will be dropped by their current plans and be forced to buy much more expensive plans instead. the author of that study is going to join us live. >>> and we're just a few hours
of your travels. nina davuluri, miss america, 2014. >>> it's been a tough month for the obama administration marked by the rocky rollout of the president's new health care program. a new survey shows while americans are aware of obama care, not that many have tried to sign up for coverage. let's get out to bertha coombs. is this a lack of interest or many people can't get online to sign up? >> it's hard to say but i would imagine the technology problems certainly are adding to this. the survey by the commonwealth fund finds that 17% of americans who are potentially eligible for coverage under the affordable care act, known as obama care, have visited the new health insurance exchanges to enroll in a plan, either by mail, phone orion line. the commonwealth fund is a private foundation that supports independent research on health care reform. the poll was conducted between october 9th and october 27th right in the thick of all of the problems that we've been seeing with the website. 60% of people say they are aware of the marketplaces. that's up from about 1/3 in a survey done e
revelations to come. >> schmidt says that google has registered complaints with the nsa, president obama and members of congress. gentlemen, joe you were saying before there are two camps of people. >> here's what the nsa said. the nsa referred to some of the press articles treatmently that they had misstated facts and mischaraterized the nsa. this is definitive. unless they're lying, the nsa follows all of the laws, regulations and policies and assertions do a grave disservice to the nation, its allies and partners and the money who make up the nsa. >> i was in the antisnowden camp but something i read yesterday in "the new york times" gives me a little bit of pause. they pointed out that the nsa has 35,000 people working for it. it has a budget of $10.8 billion. at this point they are collecting so much information. >> no morsel is too small? >> yeah. it's a little staggering when it used to be you would do whatever you can when the agency first started. you would do whatever you can. technologically they can do anything and there aren't questions. >> i remember why you take it at face
that has a lot of people scratching their heads. obama care is being run by this agency but the question is if you're going to launch a web site, is this the agency you would necessarily choose to go out and do an extremely technical, complicated process that affects the entire country? >> eamon javers in washington, thank you very much. the federal site, the has been plagued from the start. now it looks like your location could play a major role in how well or how badly the site performs for you. bertha coombs is live in lexington, massachusetts with more on that. good morning. >> reporter: good morning, simon. we're at compuware. they've been doing an independent end user testing and monitoring of how people are accessing the site, it does seem there are differences. the government says it should all be the same because is the one portal for some 36 states but there are differences depending where you are. this is a map of what you have saw a couple of weeks ago. and tell us what the red means. obviously not good. >> so what you're seeing h
report out that the white house has pressured insurance executives to keep quiet about the obama ca care rollout. >> there are a number of americans, fewer than 5% of americans who have got cut-rate plans that doesn't offer real financial protection in the event of a serious illness or an accident. remember, before the affordable care act, these bad apple insurers had free rein, every single year, to limit the care that you received or use minor preexisting conditions to add to your premiums or bankrupt you. >> david, it's good to have you back, good morning. >> thanks, carl, good to be with you. >> i want to talk about the quarter and conference call. the stock getting a lot of activity today. have you been asked to keep quiet about obama care in. >> we have not. we've been actively iengaged wih multiple years with the administration on both sides the aisle. we believe the make system needs to evolve, you need to improve affordability for all and improve health care quality for all. that's what we've been working toward. >> when he refers to "bad apple insurers," i wonder if you think h
. could american businesses be hurt? reputationally because of this. two big problems for obama care and another big website problem and a new round of sticker shock. after this short break. . >>> welcome back to "power lunch." ten neco moving higher after reporting its third quarter adjusted profits and sales meet estimates. it's an auto parts maker in illinois, did have a $59 million restructuring expense in the quarter, shares at session highs. back to you. >> thank you very much. germany buzzing over the nasdaq scandal amid accusations the u.s. spy agency has been tapping in to angela merkel's phone since 2002. the front page of der speigel says it all. the nest pointing to the u.s. embassy in berlin. the nasdaq denying german reports that president obama was told about the tapping of miss merkel's phone three years ago. spain has called the u.s. ambassador in madrid to talk about charges the u.s. has been spying on spanish citizens. the big question that we're going to try to answer over the next few days is will this hurt u.s. businesses overseas? will there be a rift or a lack
and obama care is crumbling before our very eyes and democrats are starting to panic over the collapse of obama care. next up on "the kudlow report." i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it could save you in out-of-pocket medical costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals needed. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aa
's the truth. >> a lot ocomments, obviously, about the affordable care act. obama care as its known. >> i mean, that certainly dominated the news today but there are quite a few other things. we saw the fed decision out there. that moved the marks quite a bit. a lot of people thought that the dollar might get weaker. it didn't. a lot of people were thinking that the fed statement was a lot more hawkish than anticipated. >> now we discuss today. let's look ahead to tomorrow. he walks down about 40% but could earnings give this a boost? >> if you look as these earnings, a headline of 77. asset sales make things better. we know it would have happened and their tax rate went up. if you think that there is a savior in copper, it is not. this is 95% gold. >> it's actually get up 50%. after the close, karen. >> this has been a really good one. i have to say the easy money has been made here already. that's mostly down and now they will turn more to earnings and that is a pe multiple. it's not that cheap. we're coming into a new phase. >> coming up next, we're talking about the just released earnings
president obama's health care program has gotten off to a rocky start. the new documents show just how slow the process has been right from the beginning. details, coming up. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. i'm only in my 60's... i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all stand
that president obama has been briefed on the situation, not a surprise, lax being a huge international hub and the threat and fear of terrorism. we have no idea what this was all about, what the motivation was here or really what happened to the suspect or the shooter himself, if he is in custody, killed, shot, wounded, we're still waiting on that information but the president and the white house did release this statement saying the president has been briefed about the shooting at lax. we'll continue to stay in touch with our federal and local partners. the lapd is leading the response and investigation. we urge citizens to listen to the authorities and follow directions from the first responders on site. the president will continue to receive briefings throughout the day. while the lapd may be leading this investigation at the moment this is a multiagency effort -- >> that's knbc's coverage, shots fired at terminal three at los angeles international airport. the terminal serves airtran, alaska, horizon, jetblue, and virg virgin australia. the incident is apparently over and that a shoote
of the federal housing administration, david stevens, says the obama administration has set aside billions to give banks the incentive to help struggling and underwater borrowers with their mortgages. but banks have been slow to modify the terms of those loans. >> the fact of the matter is, these programs are designed to affect those who are most at risk, who are unable to make their payments, and it does require the investor, the servicer, to participate. >> the decision to walk away from the sinking home by people who can afford to pay is spreading like a virus, because as one person on the street does it, the next-door neighbor says, "what am i doing? why am i putting all this money into this almost worthless house?" >> the concern has to be-- for someone who's gonna take that move--is that they have to be so deeply in negative equity that they're willing to damage their credit, damage their financial reputation going forward. if you get foreclosed on in your home--you walk away from your mortgage when you could have afforded it, particularly-- that's gonna follow that family for years
to® and try it today. . >> i wonder what the obamas give out if carrot sticks? >> carrot sticks pares. >> that's live by the way. so lucky kid. all right. welcome back to top moments on cnbc. here's a rapid fire recap on tonight's executive edge. [ music playing ] >> it's an experiment we have never done before. so unfortunately, i don't think we can say how this is going to turn out. i'm sure in 127 pages of legislation, there are imperfections that will be changed over time. >> i think this market will get up to 20 times earnings or better. >> when do you think? >> next year. i think we will run up toward that level. >> just to be clear, we almost got 4,000 in sales, i have not heard a single one of them that any are haunted. >> what's happened with food rea tailing in the last ten years, really, is fragmented. where people want to buy their food is all over the place. we think of it now as a food retailing industry not just a supermarket industry. >> food for us is a frequency business, more of a fill-in business, so the food business just as a per
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